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Why did Monster Beverage stock trade lower after hours?

August 8, 2024 No comments yet

Monster Beverage (NASDAQ:MNST) stock traded lower after the company reported Q2 financial results below expectations.

  • GAAP EPS: $0.41 missed the $0.47 estimate
  • Revenue: $1.9 billion missed the $2.01 billion estimate

We achieved another quarter of solid revenue growth, with record second quarter sales. The quarter was again impacted by unfavorable foreign currency exchange rates in certain markets.

Hilton H. Schlosberg, Vice Chairman and Co-Chief Executive Officer

The stock was trading 7.99% lower at $46.51 at market close. The stock has a 52-week high of $61.23 and a 52-week low of $47.13.

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